According to the latest report by IMARC Group, titled “Mirror Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global mirror coatings market reached a value of US$ 642 Million in 2021. Mirror coatings are thin, silver metallic layers smeared over polished surfaces to reflect light. They are produced by applying vacuum evaporation and sputtering techniques on glass and metals, such as gold, aluminum, silver, and copper. Mirror coatings are widely used in sunglasses, lenses, laser optics, windows, telescopes, and helmet visors. They offer protection from harmful radiation and increase the durability of the products due to their scratch, abrasion, and corrosion resistance. As a result, mirror coatings are widely used in the automotive, transportation, construction, energy, and healthcare industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Mirror Coatings Market Trends:
The global market is primarily being driven by significant growth in the construction industry. Mirror coatings are widely used in the construction of commercial and residential spaces as decorative elements and structural components of walls, kitchens, bedrooms, doors, and bars. Furthermore, widespread product adoption in the automotive industry to manufacture rear-view and vanity mirrors of cars, buses, and trucks to ensure safety and security and provide optimal visibility with enhanced aesthetic appeal is providing a considerable boost to the market growth. Additionally, the recent development of dielectric mirror coatings that offer enhanced reflection and minimum signal loss for wide-ranging applications in laser, medical, military, fiber optics, and scientific research is providing an impetus to the market growth.Various innovations in nanocoating that exhibit water and dirt repellent properties and low volatile organic compounds (VOCs) emission are acting as another growth-inducing factor. Moreover, the rising adoption of infrared mirror coating in solar power generation to improve thermal efficiency and increase operating temperature is creating a positive outlook for the market. Other factors, including increasing product adoption in wastewater treatment plants, extensive research and development (R&D) activities, and the rising demand for sustainable and environment-friendly coatings, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market value is expected to reach US$ 967 Million by 2027, exhibiting a CAGR of 7.2% during 2022-2027.
- On the basis of resin type, the market has been divided into epoxy, acrylic, polyurethane, and others.
- Based on technology, the market has been categorized into nano coatings, solvent-based, and water-based.
- On the basis of substrate, the market has been classified into silver, aluminum, and others.
- Based on the end user, the market has been divided into building and construction, automotive and transportation, energy, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.?
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Arkema S.A., CASIX (Fabrinet), Diamon-Fusion International Inc., Dynasil Corporation, Edmund Optics Inc., FENZI S.p.A., Ferro Corporation, Guardian Glass LLC (Koch Industries Inc.), Pearl Nano LLC, The Sherwin-Williams Company, Tianjin Xin Lihua Color Materials Co. Ltd (NBC) and Vitro S.A.B. de C.V.
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